U.S. traders are buying 'digital residency' in Palau to skirt restrictions on the amount of cryptocurrency they can withdraw and the exchanges they can use. Major exchanges have already banned the ID, fearing abuse.
  • 𝕮𝕬𝕭𝕭𝕬𝕲𝕰English
    1•16 days ago

    I understand the inflation argument, but what gives crypto any value other than a) a relative value which is based on fiat currency anyway and b) the faith of the userbase in it?

    • @shortwavesurfer@lemmy.zipEnglish
      2•16 days ago

      What gives any currency any value other than human belief in it? After all, when fiat currencies become valueless, we as humans end up back at gold, which has been in use for millennia.